Move will save around 90 jobs
Engineering consultant WYG has agreed to buy back its Northern Irish business from liquidators Grant Thornton, saving 90 jobs.
WYG said in a statement this morning that Grant Thornton had agreed to the sale, which is conditional on courts formally approving Grant Thornton鈥檚 appointment as liquidator.
Grant Thornton was appointed to liquidate the firm鈥檚 operations in the Republic of Ireland and Northern Ireland last month, due to 鈥渆xtremely challenging trading conditions鈥� in the regions.
WYG鈥檚 Northern Ireland business contributed 拢6.5m revenue and a 拢0.4m loss last year to the company last year.
WYG also announced this morning that it expected to report a 鈥渟mall operating profit鈥� for the first half when it publishes its results for the six months ending 30 September 2012 on 29 November.
Paul Hamer, chief executive officer of WYG, said: 鈥淗aving stated, on 7 June, that we were confident of returning the Group to operating profit in the near term, we are delighted to announce that this milestone in the Group鈥檚 turnaround will be reached in the first half of the current year.鈥�
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